Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1887-10-19
Staunton Markets.
SPECTATOR OFFICE,
Sfauufou Va Oct. Is. 1887

All interests. more or less. are absorbed this
week by the Fair which commenced yester-
day.
| The country trade in staples as well as small
and barter commodities are without change in
quotation except for bacon and potatoes, which
| are higher.
| In wholesale grocery lines, western bacon in
| some grades Is lower, but all sugars have ad-
| vanced, as will be found by examining the
price current. The cause of this is stated in
| the following review of circumstances Affecting
| that important interest which it seems is to be
| managed without serious disturbance Of the
trade either in supplies or prices.
combination has been completed. including
Boston Refneries, with one exception. thus
| ringing under the management and control
| of q Committee OF Eleven Refiners almost the
| ton OF refined sugar in the United states. The
| combination represents a capital of say fifteen
million dollars, spportioned to the different
refineries on an equitable basis for the division
| of pronts. The only sugar refineries in the
| United states. not included in the Trust or
| combination are two refineries In Philadelph Ia
one in Boston, three small reineries in New
Orleans, one In St. Louis. but not running, and
Two IN n IF ran Inc Committee nave
| IL can pc always regulated by the demand; by
the running full, OF closing, or partial closing
| of any refinery. and will have no difficulty in
| regulating the prices of refined to a paying
| basis, as compared with market price of raw
sugar IL Is not likely that large profits will be
| demanded as this course would antagonize the
| sixty million sugar consumers, who would
unite In demanding from the next Congress
and refined sugar. 1t is not to be doubted, how
| ever, that such a com binatiOn as this MARKS a
crisis In the sugar trade. 1t has been led up to
| by the disastrous condition of the business for
| q series of years, until the rehners have been
| forced to do something for self protection. The
action of the Government in continually re-
|
| ceased, thereby giving the ref1ners no outlet
! for their surplus production was undoubtedly
This plan undoubtedly will protect their inter-
ests fully, and If carried out conservatively IL
would also appear TO be in the interest of the
dealers in refined sugar throughout the country
| by avoiding those violent fluctuations in
prices. which have been the frequent result oil
over production one week. and under produc-
running independently. And for the same
reason the new system may not necessarily be
Objectionable TO the consumers of sugar, as II
does not appear to have an influence In the di
rection of Increasing the price OF raw sugar,
as it may result eventually in doing away with
all competition in the raw sugar markets by
having virtually but one buyer for the United
done by the rope makers of the United States,
under similar combination recently formed.
For the present. however. the buying Of raw
finer separately but the unity of inter ests cam
not fail to have some influence in diminishing
be the greatest sufferers, although it is said
that liberal policy is TO be pursued towards
them. The elimination of this most important
movement just at this time, as Congress is
about to assemble. and when general demand
exists for a reduction of surplus revenues,
makes it very probable that the advocates of
repeal of sugar duties will receive such large
accessions, that the minority interests of do
nestle cane (and beet production in Its In
fancy will be lost sight of. under the errone-
Gus supposition that refners are opposed to a
repeal of sugar duties Except on refined sugar.
and a tariff bill will be passed largely reducing
or repeating entirely the duty on raw sugar.
This result certainly seems more likely. to oc-
cur than 1t has at any previous session of Con-
gress, and the action of the refiners will stimu-
late it wonderfully. Under the influence of
the constantly improving statistical position
which made further progress this week, prices
of both raw and refined are higher by Lice. In
raws and 7-16c on refined, to bring it nearer
the parity of the raw sugar market. Total
stocks are 7 ,905 tons decreased for the week,
and are now 80 345 tons under last year. Stocks
in the entire island of Cuba on October LIST
were AZ .6S5 tons, or say Il, 800 tons under same
time last year. This makes virtually 1906
tons less stock for use in the United States
than last ear, to January 1st. Total stocks in
all the principal countries is $50, $50 tons,
against 707 1877 tons last year, and against last
weeks figures of 547, z64 tons and 1872 740 TONS"